The common price of a brand new EV has been cheaper than the typical price of a brand new petrol automotive within the UK for the third month running in May, in line with Autotrader.
The corporate said the typical price of a brand new EV – including manufacturer discounting and the UK Government’s Electric Automobile Grant – stood at £43,049, compared with a median recent petrol automotive price of £43,178.
Autotrader said the typical discount on a brand new EV was 11.7% off RRP.
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In keeping with Autotrader, the discounts combined with rising fuel costs are driving increased EV demand, with the platform reporting EVs accounting for 29% of recent automotive enquiries in April.
Autotrader said the Skoda Elroq (pictured) was currently the UK’s most in-demand EV, accounting for 4.1% of EV enquiries to this point in May, ahead of the Renault 5 E-Tech (3.2%) and the Kia EV3 (3.7%). Autotrader said the recognition of those models, priced at around £30,000 or below, demonstrated growing demand for more cost-effective EVs.
Recent automotive market sees overall demand increase
Autotrader said the broader recent automotive market was seeing increased demand in May, with visits to its recent automotive platform up by 18% year-on-year within the month to this point. Recent automotive listings are up by 8% month-on-month, and 12% year-on-year.
Across all fuel types, the Jaecoo 7 – the UK’s most-registered automotive in March – was essentially the most enquired about automotive, at 4.3%, ahead of the Land Rover Defender 110 (3.1%) and the Volkswagen Golf (3%).
Bex Kennett, head of recent automotive at Autotrader, said: “The brand new automotive market is carrying strong momentum into the summer, with demand growing and stock levels rising as retailers reply to increased consumer interest.
“Competition between manufacturers stays intense, particularly in the electrical market, where more cost-effective models and attractive offers from brands like Skoda and Kia are drawing in buyers.
“With enquiry levels continuing to act as a number one indicator of sales, retailers that capitalise on this demand now might be best placed to maximise performance within the months ahead.”
This Article First Appeared At www.am-online.com
